Do you guys think this budet is going to have a great impact on the income tax slabs for an individual?
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Hi @RonakSavla, hope you’re well. It’s been a long time since we’ve seen you here on Dhan Community!
Before I answer this, a disclaimer - this is my personal opinion and not of Dhan.
Let’s understand what we know so far:
- Budget 2020 saw the current Finance Minister last bring out the much requested tax slab changes (refer image above)
- She also brought an interesting change on Budget 2021 - where taxpayers who were unaware about the myriad deductions could opt for the new tax regime, however there were no change in existing tax slabs.
- Budget 2022 didn’t offer any relief either, with an added focus on crypto and post-tax error conciliation.
There are media reports that there might be a reduction (finally) in tax rates in Budget 2023. While there is no official claim by the government, our Finance Minister made a statement that she understood the pressures of the middle class.
I feel that there might not be any change in the existing tab slabs (at least for the lower tax slabs). Instead, a lot of us are expecting some favourable announcements that help reduce the tax burden of investors (LTCG) and super traders (STT) on Dhan.
What do you think @RonakSavla?
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